"This is a good outcome for TheStreet's shareholders," Eric Lundberg, TheStreet's chief executive officer and chief financial officer, said in announcing the deal. Under terms of the agreement, investors will receive cash from Maven, and also a special distribution equal to the cash held by TheStreet immediately prior to the deal's closing (less any excluded liabilities agreed to between the parties). Additionally, stockholders will receive a special "contingent value right," or "CVR." This will entitle them to a pro-rata portion of funds held in escrow from TheStreet's previous sale of its RateWatch and BoardEx/TheDeal businesses.

Financial information company TheStreet Inc. said it's been purchased for $16.5 million. New York-based TheStreet (Nasdaq: TST) said the purchaser is TheMaven Inc. (OTC Bulletin Board: MVEN) of Seattle. Maven said it's a "media coalition of professional content destinations" that includes "many household media brands, and hundreds of professional journalists and content creators." TheStreet was co-founded in 1996 by CNBC "Mad Money" host Jim Cramer.

Online financial news publication TheStreet, Inc. (NASDAQ: TST ) will be acquired by Maven (OTC: MVEN ) for $16.5 million in cash. “The first step was the successful sale of our RateWatch business in June ...

said Thursday that the company has closed a previously announced sale of its institutional-business units TheDeal and BoardEx to Euromoney Institutional Investor PLC for $87.3 million. "Completing the sale of our institutional business is a meaningful milestone for TheStreet, and we wish our colleagues continued success with Euromoney. Lundberg had previously served as the company's chief financial officer, a title he'll retain while replacing outgoing CEO David Callaway and joining TheStreet's board.

TheStreet said it entered into an agreement to sell The Deal and BoardEx units to Euromoney Institutional Investor PLC, a global business information and events group. The deal was unanimously approved by a special committee of independent directors and a "substantial portion" of the $87.3 million in net proceeds from the sale will be distributed to shareholders. TheStreet CEO David Callaway will resign once the transaction is completed, the company said.

Euromoney Institutional Investor PLC on Thursday, Dec. 6, said it agreed to buy the institutional units of TheStreet Inc. The London-listed company will pay $87.3 million in cash for the unit that comprises The Deal, which was founded in 1999 by the late Bruce Wasserstein, and relationship mapping service BoardEx. The deal will be funded from existing facilities.

Financial news provider TheStreet Inc on Thursday said it will sell its B2B business units, The Deal and BoardEx, to London-based Euromoney Institutional Investor Plc for $87.3 million, as it explores wider options for the company. TheStreet was co-founded in 1996 by Jim Cramer, a commentator on CNBC and the host of its Mad Money show. Chief Executive Officer David Callaway will resign from the company after the completion of the transaction, it said in a statement.